"The Big Short" Author: SBF modified the rules to extend the employee SRM lock-up period after SRM surged significantly

2023-10-04 11:40:10

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ChainCatcher news, Michael Lewis, the author of "The Big Short," reveals in his new book "Going Infinite" that former FTX CEO Sam Bankman-Fried was concerned that his employees would become wealthy due to the significant rise in the price of Serum (SRM) tokens in 2021, and might no longer be willing to work up to 14 hours a day for his crypto trading platform. As a result, Bankman-Fried modified the release rules for SRM tokens, locking the employees' SRM tokens for seven years.

It is reported that Michael Lewis's new book about SBF, "Going Infinite: The Rise and Fall of a New Tycoon," is set to be published on October 3. Several sources have revealed that Apple acquired the rights to the book for $5 million. Michael Lewis's works also include "The Fall of Crypto King Sam Bankman-Fried & FTX" and "The Big Short."

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